Ameriprise Financial Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Ameriprise Financial Inc. (AMP) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $761 million, or $6.55 per share. This compares with $437 million, or $3.58 per share, in last year's first quarter.

Excluding items, Ameriprise Financial Inc. reported adjusted earnings of $695 million or $5.98 per share for the period.

Analysts on average had expected the company to earn $5.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.3% to $3.66 billion from $3.35 billion last year.

Ameriprise Financial Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $761 Mln. vs. $437 Mln. last year. -EPS (Q1): $6.55 vs. $3.58 last year. -Analyst Estimate: $5.86 -Revenue (Q1): $3.66 Bln vs. $3.35 Bln last year.